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Forex market reviews

21 October 2015

Media reviews

Natalya Indeeva

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Saudis Risk Draining Financial Assets in 5 Years, IMF Says (News 21/10/15)

Saudi Arabia may run out of financial assets needed to support spending within five years if the government maintains current policies, the International Monetary Fund said, underscoring the need of measures to shore up public finances amid the drop in oil prices.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Euro/Dollar Trading in 40 Point Range

Trades in Europe are being conducted relatively calmly. As tomorrow’s ECB meeting draws nearer, the euro/dollar is trading in yesterday’s price range between 1.1323 and 1.1386. The euro is doing alright on the back of the euro/franc, euro/yen and euro/Australian dollar crosses.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Pound/Dollar: Expected Movement in Sideways Channel

In the review on the European session I expected a fall of the GBP/USD to 1.5325. It fell to 1.5434 and only today reached 1.5326. A sideways channel has formed. Taking into account that the ECB is to convene tomorrow and Mark Carney will speak today, I’ve gone for a fall of the pound to the lower limit of the channel at 1.5414 and then a return to 1.5475. Be prepared for the GBPUSD going lower than 1.5414.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Euro/Dollar: Rate Stabilised at 1.1350

On Tuesday the euro/dollar was up to 1.1386 during European trades. This growth wasn’t strengthened, so the price returned to 1.1331 by the close of the European session. Janet Yellen didn’t mention monetary policy, so there was no reaction to her speech.
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20 October 2015

Media reviews

Natalya Indeeva

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Rate Hike Window May Be Closed for A While

Cautious Federal Reserve policy makers have been quick to site each of those setbacks and unexpected twists and turns as they’ve repeatedly held off on the first rate hike in nearly a decade.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Euro/Dollar Back to Friday’s Maximum

European trades have seen the euro/dollar return to Friday’s maximum. I don’t have a clue what event has sparked demand for the euro as the ECB meeting approaches. The news is weak and we’re all still expecting the ECB to take those additional economic slackening measures.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Pound/Dollar: Pound Could Leave Equilibria at 13:00 EET

Monday’s euro/pound cross is lending support to the UK pound, so instead of falling, the rate has headed north to 1.5496. The price is now by the LB. I don’t have a forecast for today because the BoE’s Mark Carney is set to mix things up. His speech is due to be given at 13:00 EET. If he mentions monetary policy, the pound will swing.
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Market sessions

Vladislav Antonov

Vladislav Antonov

Euro/Dollar: Expected Test of 1.13

Monday saw the euro down to 1.1305 against the US dollar. Traders are selling euros as they expect the ECB to undertake additional measures on Thursday to combat low inflation.
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